KALABAKAN: Sabah is expected to secure a 40 per cent stake in a floating liquefied natural gas (FLNG) project in the State under an agreement with Petronas to be signed within the next few months, Chief Minister Datuk Seri Hajiji Noor said.
He said the State would also receive a 20 per cent stake in a new oil and gas field discovered by Petronas off Sandakan, describing both developments as major achievements for Sabah.
"We succeeded in reaching an agreement with Petronas and, in the next few months, we will sign an agreement under which Sabah will receive 40 per cent of the floating gas project in Sabah," he said when launching the Jelajah Rakyat and Jualan Rahmah Madani programme for the Kalabakan parliamentary constituency on Saturday.
Hajiji said the achievements reflected the strong cooperation between the State and Federal Governments and would strengthen Sabah's participation in the oil and gas industry.
He also said Sabah continued to attract investors through its investor-friendly policies, while the State Government remained committed to accelerating development in Kalabakan under the Sabah Maju Jaya (SMJ) agenda.
